The APP of Zhitong Finance was informed that the HKEx disclosed on October 14 that Zhu Bajie Co., Ltd. submitted an application for listing on the main board of the HKEx, with CITIC and Jianyin International as its co-sponsors.

Zhu Bajie is the largest comprehensive customized enterprise service e-commerce platform in China. According to iResearch Consulting report, in terms of GMV in 2021, the company ranks first in China's comprehensive customized enterprise service e-commerce market and second in China's customized enterprise service e-commerce market.

Since its inception, Zhu Bajie has focused on the use of technology to intelligently match the service needs of employers and the skills of service providers through the platform, and to match the transactions between employers and service providers. The company strives to enhance its value proposition to platform users by providing convenient and lifecycle corporate services to employers, and enabling service providers to digitize business operations to improve operational efficiency. On June 30, 2022, corporate employers can purchase more than 500 kinds of corporate services on the platform, and the company has a cumulative total of 32.4 million registered users, including 25.5 million corporate employers and 6.9 million service providers.

Zhu Bajie benefits from the growth opportunity of China's customized enterprise service e-commerce market. According to the iResearch consultancy report, the number of market entities in China has grown rapidly from 87.1 million in 2016 to 154 million in 2021, with a compound annual growth rate of 12.0 percent, and is expected to further grow to 225 million in 2025, with a compound annual growth rate of 9.9 percent from 2021. According to the iResearch consultancy report, small and medium-sized enterprises contributed 60 per cent of GDP in 2020, and the number of small and medium-sized enterprises accounted for more than 97 per cent of the total number of Chinese market players in 2021.

At the same time, the rise of flexible employment brings new vitality to the supply of enterprise services. With the rise of young professionals who prefer flexible and independent work arrangements, the number of professionals seeking flexible work arrangements in China has increased rapidly in recent years. According to the consulting report of iResearch, the number of flexible employment in China has reached 200 million in 2021.

Financially, for the three years ended 31 December 2021 and the six months ended 30 June 2021 and 2022, the company's gross profit was approximately RMB 388 million, RMB 482 million, RMB 466 million, RMB 238 million and RMB 171 million respectively.